Make your
house a home.

Renovate and rehab a new or existing home with our Renovation financing options. Whether you’re looking to put in a pool or you need to repair your home after storm damage, HMA Mortgage offers two unique Renovation Loan options to fit your needs.

Makeover Mortgage Renovation Loans

FHA 203 (k)

  • 3.5% minimum down payment requirement 
  • Upfront mortgage insurance premiums financed into loan
  • Monthly mortgage insurance premium 
  • Existing homes eligible
  • Seller concessions up to 6% of sales price 
  • Condominiums may be eligible, must be on FHA approved list or FHA single unit spot approval
  • No income limits 
  • No minimum on renovation costs 
  • Gifts allowed

Home Style 

  • Owner occupant, second homes and investment properties
  • Condos, one to four units allowed 
  • Renovations costs up to 50% of the after improved value
  • Incomplete properties when the builder went out of business allowed
  • No restrictions on improvements (must be permanently fixed to property and add value)
  • Contingency reserve is allowed from out of pocket

Questions? Contact us today.

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